Think cybersecurity is only important for enterprise companies? Think again.

Here are a few reasons why small businesses should re-think whether their data, and their customer’s data, is truly secure:

Small Business is a target:

Over 50% of cyberattacks target small businesses, and the average cost of an attack to a small business has been shown to range from $200,000 to $1.4 million. Cyberattacks are happening to all businesses, and they can be extremely damaging: We recently spoke to a small business that suffered two weeks of downtime due to a ransomware attack. Ouch!

Customers demand cybersecurity:

Small businesses in many industries are getting hit with third-party cybersecurity assessments, questionnaires, and sales inquiries from current or prospective customers who want to know how their sensitive data is protected. A strong cybersecurity posture can be a huge differentiator and a sales tool. Imagine if you could show prospective customers that you take cybersecurity seriously—you would have a huge advantage over the less security-conscious competition. On the flip side, if you didn’t have strong cybersecurity measures in place, you won’t be able to pass the assessment and may risk losing current and future business.

Cybersecurity is the law:

In a growing number of sectors, cybersecurity is no longer optional. Federal and state cybersecurity legislation and industry compliance standards mean that businesses of all sizes must have specific cybersecurity protections in place or face fines, lost contracts, or legal action.

To best protect your business and your customer data, you truly should be thinking about cybersecurity 366 days a year. An effective cybersecurity program should be comprehensive, but it doesn’t have to be complicated or difficult to get started.

So what do you say—are you ready to take the leap into a stronger cybersecurity posture?

The first step is usually a cybersecurity assessment to show you where you stand. A comprehensive assessment will cover many components of your cybersecurity posture: company policies and procedures, employee cybersecurity awareness training, technology use and protections, and more. Once you have a high-level view of your cybersecurity health, it’s a lot easier to begin to make improvements.

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